NAV suspended in corporate bond sub-funds in Sparinvest SICAV

24.08.2015

Today the Board of Directors of Sparinvest SICAV has suspended the daily NAV and hence the subscription and redemption in six corporate bond funds in order to protect the investors’ interests. The suspension applies to the following sub-funds:

The decision comes in the wake of significant market turbulence, resulting in low liquidity and uncertainty about the pricing of a number of bonds in the abovementioned portfolios. More specifically, the recent drop in commodity prices has resulted in a significant repricing of bonds related to commodities, and poor market liquidity combined with today’s high selling activity on the market mean that we see significant discrepancies between indicated prices and traded prices. This impacts our ability to calculate correct NAV for the sub-funds in question.

The suspension is effective as of 24 August 2015 and will be in force until further notice. The sub-funds will not be re-opened for trading until the pricing of the underlying bonds is normalized.

We will update on the developments in the abovementioned sub-funds on our websites, and we regret any inconvenience this may cause our investors. Local language versions of this news item will be added as soon as possible.

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The information provided is not an invitation to purchase units of the sub-funds. Subscriptions of units in the sub-funds will be accepted only on the basis of the most recent Prospectus of the Fund and the latest Annual Report (or Semi-Annual Report, if more recent), which can be downloaded free of charge via this Web site.

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